Analyst summary in a Dow Jones Report:
Ski
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=Other Analysts Boost ATI Technologies Earnings Forecasts
By Scott Adams
TORONTO (Dow Jones)--A Research Capital Corp. analyst raised his earnings
estimate on ATI Technologies Inc. (T.ATY) last week, and analysts at other firms
are following suit Monday, helping to propel the computer graphics chip maker's
stock to greater heights.
Earlier Monday, CIBC Wood Gundy Securities Inc. analyst Todd Coupland raised
his fiscal 1998 earnings estimate for ATI to C$2.30 a diluted share, from his
previous estimate of C$2. He also raised his fiscal 1999 estimate to C$2.80 a
diluted share, from the previous estimate of C$2.50.
As a result, Coupland also boosted his 12-month stock price target to C$60 to
C$65, from his previous target of C$55 to C$60.
ATI earned 73 Canadian cents a diluted share in the first quarter ended Nov.
30, 1997.
Other analysts are also known to have boosted their estimates in the past few
days.
On Monday, Research Capital's Brian Antonen said he's now looking for ATI to
earn C$3.09 a diluted share in fiscal 1999, up from his previous estimate of
C$2.75.
Antonen raised his fiscal 1998 earnings estimate to C$2.36 a diluted share,
from his previous estimate of C$2 a diluted share. His 12-month price target now
stands at C$65, up from his previous target of C$60.
Antonen told Dow Jones last Thursday that he'd boosted his estimates after
seeing strong fourth-quarter results from Dell Computer Corp. (DELL), one of
ATI's big customers. Dell's results were helped by strong European sales.
Monday, Coupland told Dow Jones that also expects to see more chip design wins
from ATI, and for ATI's original equipment manufacturer customers to continue to
report strong personal computer sales.
Monday in Toronto, ATI shares have climbed 1.65 to 47.00, beyond their
previous 52-week high of 45.35.
-By Scott Adams; 416-943-7800
(END) DOW JONES NEWS 02-23-98
11:32 AM
Copyright 1998 Dow Jones & Company, Inc. |
